Maria E. Recalde
Phone: 617.897.5620
Fax: 617.439.9363
mrecalde@sheehan.com
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Rules May Vary: Are there any sweepstakes state registration requirements?
Friday, March 30, 2007
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| "You may already be a winner." " No purchase necessary." " Void where prohibited." This isn't just legal jargon. If your Company has a contest, promotion or give away and it is deemed to constitute a sweepstakes that meets certain criteria, you may be required to register and post a bond in certain states. New York and Florida, for example, require sponsors to register any sweepstakes where the total value of all prizes exceeds $5,000. Such states may also require sponsors to obtain a trust account or post a bond in an amount equal to the offered prize. If registration is required, you also may need to comply with designated waiting periods before the promotion commences as well as ongoing notification requirements. Have your attorney check for state-specific requirements.
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